The US dollar (USD) moved to the headlines on tariffs. Trump has just announced plans to impose 25% tariffs on steel and aluminum imports (without mention of the date of entry into force) and last Friday, spoke about the introduction of reciprocal tariffs this week. The DXY was for the last time at levels of 108.12, the FX analysts of OCBC, Frances Cheung and Christopher Wong point out.
Boldist impulse in the daily graphic
“Without forgetting that China’s tariffs on US goods enter into force today, we cannot rule From the labor market it was clearly positive although there are signs that it is softening slowly, while the feeling of the University of Michigan fell but inflation expectations increased. ”
“The bearish impulse in the daily chart remains intact while the RSI continued to rise. The risk of rebound is not ruled out. Resistance in 108.40 (SMA of 21 days), levels of 110.00/20 (previous maximum). Support in 107.80 (Sma 50 days, fibonacci setback from 23.6% of October minimum to the maximum of January), levels of 107. “
“In terms of data/events of the US this week, the IPC (Wednesday), Powell’s semiannual testimony against legislators (Tuesday, Wednesday), the PPI (Thursday), retail sales and industrial production (Friday ) They will be closely followed. ) They can lead to a dovish reevaluation, and this can weigh on the USD.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
